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The Role of Overconfidence and Risk Perception in Stock Investment Decision-Making among Young Investors Nico Pracahya; Lucia Rini Sugiarti; Fendy Suhariadi
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 1 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i1.9896

Abstract

The rapid growth of stock market participation among young investors, particularly Generation Z, has intensified concerns regarding the psychological factors underlying investment decision-making. Despite increased access to financial information and digital trading platforms, young investors often exhibit biased judgments and inconsistent decision quality. From a psychological perspective, cognitive biases and subjective risk evaluation play a critical role in shaping behavior under uncertainty. This study aims to examine the role of overconfidence and risk perception in stock investment decision-making among young investors. This research employs a quantitative, explanatory design using survey data collected from 159 Generation Z investors. Data were analyzed using multiple linear regression analysis to assess the effects of overconfidence and risk perception on stock investment decision-making. Overconfidence and risk perception were measured as psychological constructs reflecting cognitive bias and subjective risk appraisal, respectively. The results indicate that overconfidence has a positive and statistically significant effect on stock investment decision-making, suggesting that excessive self-belief increases decisiveness and investment engagement among young investors. Additionally, risk perception significantly influences investment decisions, highlighting the importance of subjective risk evaluation in guiding behavior under uncertainty. The findings confirm that psychological factors jointly shape how young investors interpret information and make financial decisions. From a psychological standpoint, this study contributes to decision-making and cognitive psychology by demonstrating that investment behavior among young adults is driven not only by rational evaluation but also by cognitive bias and perceived risk. The findings imply that psychological interventions such as bias awareness training, self-reflection, and risk appraisal education are essential complements to financial literacy programs.
What Shapes Leadership? A Systematic Literature Review Of Communication, Interaction, And Social Construction Perspectives Emanuel Hindro Cahyono; Lucia Rini Sugiarti; Fendy Suhariadi
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 1 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i1.9923

Abstract

This systematic literature review examines what shapes leadership through the lenses of communication, interaction, and social construction. Drawing on interdisciplinary scholarship from leadership studies and communication theory, the review synthesizes research that conceptualizes leadership not as an individual trait or positional authority, but as a dynamic, relational, and communicative process. Using a systematic search and screening procedure, the study analyzes key theoretical and empirical contributions that emphasize meaning-making, interactional practices, discourse, and socially constructed realities in leadership processes. The findings indicate that leadership emerges through ongoing communication, including sensemaking, framing, dialogue, and negotiated interactions among leaders, followers, and broader stakeholders. Rather than residing solely in individuals, leadership is shown to be co-constructed within social contexts shaped by language, power relations, cultural norms, and organizational settings. This review highlights a shift from leader-centric models toward relational, distributed, and process-oriented perspectives, underscoring communication as constitutive of leadership itself. The study contributes to leadership scholarship by integrating communication and social construction perspectives into a coherent framework, offering implications for future research and leadership development practices that prioritize interaction, reflexivity, and collective meaning-making in complex organizational and social environments.
Pengaruh Pola Asuh dan Persepsi terhadap Kepercayaan Diri Siswa Madrasah Ibtidaiyah yang Bermain Roblox Ahmad Fatkhus Syahdani; Lucia Rini Sugiarti; Erwin Erlangga
Assyfa Journal of Islamic Studies Vol. 4 No. 2 (2026): Assyfa Journal of Islamic Studies (August) In Press
Publisher : CV. Bimbingan Belajar Assyfa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61650/ajis.v4i2.1114

Abstract

The rapid advancement of digital technology has made online games such as Roblox an inseparable part of children’s lives. Nevertheless, its impact on students’ psychological development, particularly self‑confidence, remains underexplored in the context of Islamic education. This study aims to analyse the predictive relationship of parenting style and perception of Roblox with the self‑confidence of students who play Roblox at MI Miftahul Huda Tebing Suluh. A quantitative approach with an explanatory design was employed, involving 121 students from grades I to V as the sample. Data were collected using Likert‑scale questionnaires and analysed using multiple linear regression. The results show that parenting style has a significant positive relationship with students’ self‑confidence (β = 0.203; p = 0.010). Furthermore, perception of Roblox also shows a significant positive relationship, contributing even more dominantly (β = 0.569; p < 0.001). Simultaneously, both variables significantly predict students’ self‑confidence (R² = 0.487; F = 56.029; p < 0.001). The uniqueness of this study lies in integrating parenting style and digital perception as simultaneous predictors of self‑confidence within the Madrasah Ibtidaiyah context. These findings have practical implications for parents and educators in fostering children’s self‑confidence in the digital era.
Hubungan Romantis dan Penyesuaian Sekolah di Kalangan Siswa SMP: Studi Fenomenologis Adinda Ery Larasati; Lucia Rini Sugiarti; Ira Kusumawaty
KOLONI Vol. 5 No. 2 (2026): JUNI 2026
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/koloni.v5i2.1006

Abstract

Romantic relationships are one of the developments that start to emerge in early adolescence, including among junior high school students. Experiencing a romantic relationship can provide emotional support, boost self-confidence, and expand students' social skills. However, such relationships also have the potential to cause emotional conflicts that affect students' academic and social life at school. This study aims to explore the life experiences of junior high school students who are in romantic relationships and understand how these experiences influence their adjustment to school life. The study uses a qualitative approach with a phenomenological design. Participants consist of 12 junior high school students who have had at least three months of dating experience. Data were collected through semi-structured in-depth interviews and analyzed using Interpretative Phenomenological Analysis (IPA). The results of the study are expected to show that romantic relationships are seen as a source of emotional support, a way to gain attention and social recognition, and a medium for learning about commitment and interpersonal communication. In addition, dating experiences affect school adjustment through changes in learning motivation, quality of relationships with peers, emotional management, and involvement in school activities. The research findings are expected to contribute to the development of guidance and counseling services that support adolescents' social-emotional development.